Excel Homework 7: Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2020: $ April May 320,000 $ 300,000 128,000. 151,000 June $360,000 176,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 44,000 11,000 80,000 11,500 11,000 150,000 63,000 11,000 02 on The company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of the sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2020, credit sales were $190,000 and credit purchases were $130,000. The ending cash balance in March was $150,000. Using this information, complete the following cash budget for April through June. Beginning Cash Balance Cash receipts Collection from prior sales Collection from current sales Total Cash Available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases- Total Cash Disbursements ? Ending Cash Balance